CBO Chief Still Sees US Treasury ‘X-Date’ Coming Late Summer

The head of the nonpartisan Congressional Budget Office said the US Treasury Department can likely keep paying the government’s bills until late summer before Congress must act to raise or suspend the debt ceiling.

CBO Director Phillip Swagel said federal revenues appear to be tracking earlier projections, suggesting the Treasury has a few more months before it could run out of cash to keep paying its obligations in full and on time, risking a potential default.